Title
Receive briefing regarding annual investment activity and proposed changes to the City’s Investment Policy.
Body
During the Pre-Meeting, City staff will present an overview of the investment activity for fiscal year 2017 and historical trends. Staff will also cover proposed changes to the City’s Investment Policy that will be on the September 18, 2017, City Council agenda for approval. All proposed changes are compliant with the Public Funds Investment Act (PFIA) of Texas. The areas of change include the following.
1. Update Money Market Mutual funds language to match PFIA and related legislative changes - page 7
2. Changes to the Broker/Dealer list - page 14
a. Remove Coastal Securities, Inc. - acquired by FTN Financial Capital Markets
b. Various contact information updates
A redlined version of the Investment Policy is included for review.
Attachments
Investment Policy Redlined
Drafter
Myra Rogers
Head of Department
Debbie Mol